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Oct 13, 2012
10/12
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look at the tax cuts, what tax cuts? they're talk about taking a status quo, tax rate that exist today, increasing the higher rates on people who earn more money. millionaires and billionaires like dry cleaners, you know, mechanics and other people like that. when you and i both know spending is so massive they will try back tax and tax 401(k)s and raise taxes on the middle class. what is the answer? the answer is controlling government. firm, spending, caps over -- >> neil: they can't. they can't mark. whether they do it now or not, whether they play the smoke and mirrors or not sex they don't and it's clear to you and others that they're not. what do you think happens? >> it's over. then it's over. the economy is going to collapse. peep think just because it's america we'll survive mishandling of the finances. we're not guaranteed economic prosperity in this country and we won't have it if it keeps up. >> neil: to that point, we are just getting this in to our news room. this is an interview with reuters saying that he
look at the tax cuts, what tax cuts? they're talk about taking a status quo, tax rate that exist today, increasing the higher rates on people who earn more money. millionaires and billionaires like dry cleaners, you know, mechanics and other people like that. when you and i both know spending is so massive they will try back tax and tax 401(k)s and raise taxes on the middle class. what is the answer? the answer is controlling government. firm, spending, caps over -- >> neil: they can't....
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Apr 28, 2012
04/12
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i think it needs cleaning up and the whoem thing about being taxed. there's untacked money getting taxed through ira's and they have all kinds of gains and-- >> hold on. >> and that's tax deferred. >> if you die and with an ira and your children get it, it's untaxed money. >> the actuaries, down in washington have decided how much money they're going to get 20 years from now from that tax revenue, by taking it today, we're stealing from peter to pay paul, it doesn't make a lot of sense. >> the definition of the government cleaning up a mess is making a bigger mess. and i have news for you, this has been a great idea, sep ideas and ira's and roth enabled people to put money away and forced them to put it away and it's been a great move. don't screw with prosperity and things that have worked. >> okay, guys. >> the scramble is on in washington to keep the student loan rates at the current law, will that only drive tuition higher and drive taxes more. >> why preventing student loans rates from doubling, plus, occupy >> the fight over student loans rates
i think it needs cleaning up and the whoem thing about being taxed. there's untacked money getting taxed through ira's and they have all kinds of gains and-- >> hold on. >> and that's tax deferred. >> if you die and with an ira and your children get it, it's untaxed money. >> the actuaries, down in washington have decided how much money they're going to get 20 years from now from that tax revenue, by taking it today, we're stealing from peter to pay paul, it doesn't make...
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May 19, 2012
05/12
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we had across the board tax cuts before so we're going to need across the board tax increases to run a balanced budget and the spending levels of the clinton administration, all the spending has grown faster than inflation as well and defense alone. 50 to 70% adjusting for inflation and so we have to go to those tax levels across the board and less government spending and everyone is going to have to get less than government and pay more. and hopefully we can do it over a long period and not cause an overnight collapse. >> scott, do you agree with that? >> brenda, i think jonas brought up something important, the balanced budget of the clinton years, it wasn't early, brenda, when he hiked taxes in 1993 on corporations and high income earners, the balanced budget actually came after the tax cuts of '97 when capital gains were hit and so was the high income earners, that's the deal. we have to get growth going. you saw the.com boom of the '90s, we've got to have lower tax policy to get people investing again. >> brenda: it's a very different time with the clinton years we were in the m
we had across the board tax cuts before so we're going to need across the board tax increases to run a balanced budget and the spending levels of the clinton administration, all the spending has grown faster than inflation as well and defense alone. 50 to 70% adjusting for inflation and so we have to go to those tax levels across the board and less government spending and everyone is going to have to get less than government and pay more. and hopefully we can do it over a long period and not...
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Nov 17, 2012
11/12
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so-- >> you tax the higher end people and they're not going to hire. you tax the higher end people and they're not going to hire those people and it's going to get worse and worse. >> i could hire ten people in the last three weeks, nothing to do with tax rates, nobody wakes up in the morning, i'm going to spend 1% more, so i'm going after a business opportunity. >> but you're tobin smith and-- >> and you brought us-- >> and nothing like the hollywood moguls and so much money, and he's totally insulated from anything. a million here, a million here. >> all right, you're fired, you're fired! >> no, no, you're granular, you're just not sugary sweet. jonas, you want today get in, go ahead. >> the debt showdown is a frightening thing for consumers because it doesn't look like the government would be able to, and an upside to be positive about the christmas and holiday spending, this will reassure investors they will get their money back when they lend it to the government because their revenue is going up and spending going down and that's the good side. >
so-- >> you tax the higher end people and they're not going to hire. you tax the higher end people and they're not going to hire those people and it's going to get worse and worse. >> i could hire ten people in the last three weeks, nothing to do with tax rates, nobody wakes up in the morning, i'm going to spend 1% more, so i'm going after a business opportunity. >> but you're tobin smith and-- >> and you brought us-- >> and nothing like the hollywood moguls and so...
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Jul 7, 2012
07/12
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and our country, they have singapore to avoid our taxes and get together and have the fixed tax rate. >> and going to other countries and new taxes. >> and the global tax-- ments hey, why could we-- first of all, you have a universal tax code that we can't even understand a domestic tax codement and gary b says, look, there is no scientific proof of any of this global warming right now. what are we going to do. what are you going to solve? and it's another wealth redistribution scheme, all it is. >> brenda: all right. thanks a ton. a new government plan in the works to seize mortgages of troubled home owners would that have any hopes for a housing recovery? the debate next. [ buzz ] off to work! did you know honey nut cheerios is america's favorite cereal? oh, you're good! hey, did you know that honey nut cheerios is... oh you too! ooh, hey america's favorite cereais... honey nut cheerios ok then off to iceland! last season was the gulf's best tourism season in years.ios in florida we had more suntans... in alabama we had more beautiful blooms... in mississippi we had more good times.
and our country, they have singapore to avoid our taxes and get together and have the fixed tax rate. >> and going to other countries and new taxes. >> and the global tax-- ments hey, why could we-- first of all, you have a universal tax code that we can't even understand a domestic tax codement and gary b says, look, there is no scientific proof of any of this global warming right now. what are we going to do. what are you going to solve? and it's another wealth redistribution...
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Oct 6, 2012
10/12
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of all of that money going to the super wealthy. >> so, are promises of massive tax hikes, taxing the jobs market? hi, everyone, i'm brenda buttner, this is bulls and bears, here they are, bulls and bears this week, gary b smith, tobin smith, jonas max ferris, along with julian epstein and larry, talk about future tax hikes, holding back a jobs recovery? >> that's right, that's right, brenda. well, you know, certainly for consumers that are work being that have 401(k) plans they may be feeling more confident these days, but their employers don't share the optimism. they're worried what's ahead and what's ahead are future tax increases, for small business owners still, these are people that own delis and dry cleaners and pave your driveways, not fat cats and million fairs and billionaires, they're average work people and concerned about the environment. and national independent business owners a record number of people. a bad time to start a business and a bad time to hire people. and that's not going to inspire jobs in this country, which is exactly what we need right now. >> okay, cl
of all of that money going to the super wealthy. >> so, are promises of massive tax hikes, taxing the jobs market? hi, everyone, i'm brenda buttner, this is bulls and bears, here they are, bulls and bears this week, gary b smith, tobin smith, jonas max ferris, along with julian epstein and larry, talk about future tax hikes, holding back a jobs recovery? >> that's right, that's right, brenda. well, you know, certainly for consumers that are work being that have 401(k) plans they may...
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Oct 20, 2012
10/12
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that helps business like other states than california, which raises taxes and takes money out of the economy and puts it into the government's hands, which is huge for a state like that and florida is getting its act in gear. >> what do the candidates have to learn from these governors? neither one of them has exactly the same policies. >> the first thing we can learn is five out of the 7 governors in the swing states are republicans. so, a lot of the macro republican policies seem to be working at the state level, and, rick talked about florida but look at wisconsin, scott had to go up against the recall to get collective bargaining with the unions, and, john kasich, the same in ohio and, he has gone out and had about 18 tax cut plans, he's straightened out the tax code in ohio and these are the types of things either presidential candidate needs to implement, going forward. to start creating jobs again. >> susan, john makes a good point, fighting unions and collective bargaining, going up against regulations. those are all things that seem to be working on the state level. should t
that helps business like other states than california, which raises taxes and takes money out of the economy and puts it into the government's hands, which is huge for a state like that and florida is getting its act in gear. >> what do the candidates have to learn from these governors? neither one of them has exactly the same policies. >> the first thing we can learn is five out of the 7 governors in the swing states are republicans. so, a lot of the macro republican policies seem...
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Jan 14, 2012
01/12
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he wh i started i'd rather have a higher tax rate and paying the lower payroll tax rate. i wasn't making any money. you with a nt to lead to hiring, lower the cost of hiring, the payroll tax rate, know the even the size that the worker had to pay if you had to choose between the two. >> brenda: and you're a business owner, what do you prefer? >> again, if it was that easy that there was one solution and this problem would go away we'd already be doing it. the reality, it's not just the corporate taxes. small business owners which is 100 million and less, have said over and over again, these things incongruent is what we need to be able to put and start hiring people. so, yes, this is one issue that we actually need, because again, it's just too high and when you talk with the deductions, i hear you, that's for the big companies, for small business owners we don't get the deductions and we need the lower rate and we also need the payroll taxen access to funding. we need the epa and others causing havoc on our trucking industry and the price of diesel going back and forth a
he wh i started i'd rather have a higher tax rate and paying the lower payroll tax rate. i wasn't making any money. you with a nt to lead to hiring, lower the cost of hiring, the payroll tax rate, know the even the size that the worker had to pay if you had to choose between the two. >> brenda: and you're a business owner, what do you prefer? >> again, if it was that easy that there was one solution and this problem would go away we'd already be doing it. the reality, it's not just...
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Mar 17, 2012
03/12
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now what you get when you're taxed zero? you get zero. >> everybody is raising taxes right now. everybody is doing it, they have no other options. >> i neither confirm or deny that i moved to arizona. >> and there's zero fiscal control right now. >> i'm sorry, guys, that's got to go, we are going to ask for your residentsy papers coming up, thanks, guys. so, did you catch this? >> innovative and as exciting. >> and right now-- >> well worth it. >> everybody just loves him. >> what's surprising how international it is. >> just love coming out and seeing everybody at fox business. . >>. >> brenda: no, they weren't talking about the new ipad, they were talking about neil cavuto's primary coverage on the fox business network. it's not too late to catch the latest craze, because neil is back at it tuesday for the illinois primary. and it kicks off right before 8 p.m. eastern and he is the only one counting the votes and giving you immediate market reaction, here, there, everywhere, because your money is primary. up next here, forget about marching on a bank. how about moving into a b
now what you get when you're taxed zero? you get zero. >> everybody is raising taxes right now. everybody is doing it, they have no other options. >> i neither confirm or deny that i moved to arizona. >> and there's zero fiscal control right now. >> i'm sorry, guys, that's got to go, we are going to ask for your residentsy papers coming up, thanks, guys. so, did you catch this? >> innovative and as exciting. >> and right now-- >> well worth it. >>...
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Feb 18, 2012
02/12
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>> well, brenda, i would never argue of increasing taxes, i'm in favor of tax cut, in tax rates, yes, across the board, i'm always in favor of lower taxes, but i think bob is wrong in one aspect. we do have a comprehensive energy policy. it's to put resources in unproductive areas like wind and solar and cut out the productive areas that would have, like oil. you know, the one good note. we're doing more drilling on u.s. soil than in the past 25 years, the reason, most of that drilling is it on private property. and the government property that, like anwr or off the coast still being restricted by the current administration, my gosh, if it's just simple economics, brenda, if we opened up those areas for drilling, we'd have a larger supply of oil, a larger supply of oil means a lower price of gasoline. >> brenda: steve, how to bring those gas prices down, do you agree? >> i think we're pointing the finger here at the wrong president about oil prices and gasoline prices. it's not, i'm not going to say president bush, it's president ahmadnejad. the reason why the oil prices are spiking s
>> well, brenda, i would never argue of increasing taxes, i'm in favor of tax cut, in tax rates, yes, across the board, i'm always in favor of lower taxes, but i think bob is wrong in one aspect. we do have a comprehensive energy policy. it's to put resources in unproductive areas like wind and solar and cut out the productive areas that would have, like oil. you know, the one good note. we're doing more drilling on u.s. soil than in the past 25 years, the reason, most of that drilling is...
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Oct 27, 2012
10/12
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that's not how it works. >> it would act on a tax increase on a lot of people. >> and you can't tax-- >> and you if, phase it-- >> hold on. >> a $300,000 home-- >> this benefit primarily, it starts to phase out. over like a million dollars all of a sudden you're paying the marginal rate and the deduction, even the mortgage deduction, 1 million dollars. the point is, the effect is to make the tax code lets progressive, ultimately somebody making $100,000 a year with a house with health care plan paid by the company is going to pay a higher rate and making 2 million dollars, those deductions got phased out after 2, 300,000, to the higher and lower rates-- >> hold on, that's got to be the last word. i love you guys, you get so passionate about taxes, i am so lucky. all right, no within's been following what this election means to your money, your job, and your taxes, like who else, but neil cavuto and he's back at it next weekend. first on saturday for a special cost of freedom, your ballot, your bucks, starting at 10 a.m. eastern and then back on sunday for a special your world at 4 p.m
that's not how it works. >> it would act on a tax increase on a lot of people. >> and you can't tax-- >> and you if, phase it-- >> hold on. >> a $300,000 home-- >> this benefit primarily, it starts to phase out. over like a million dollars all of a sudden you're paying the marginal rate and the deduction, even the mortgage deduction, 1 million dollars. the point is, the effect is to make the tax code lets progressive, ultimately somebody making $100,000 a...
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Mar 31, 2012
03/12
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is going to have higher income tax or any income tax. and you'd rather, from the start, maybe this is why america has the best start-up infrastructure and entrepreneurship. there's no penalty on starting up. it's how successful business already have products and once they already make the earnings and the point smaybe we have a better system, than a lot of the countries that don't have the start-up that we did, because there's more start-up favorable. >> and let me give the last words to gary b. >> let's go back to the high level, brenda, we're not competitive with any modern organized country in the world, on tax rates and we need to lower it, just to be competitive and we shouldn't be number one or number two. we should be be somewhere in the middle of the pack if we went to add the business here. >> and start, apple, facebook, google and started here. if it's such a bad tax rate. >> jonas, i'm sorry, we have to go. do you wear a tie at spring break? you must be the only one in miami who is, okay, all right, guys, thanks. while the u.s
is going to have higher income tax or any income tax. and you'd rather, from the start, maybe this is why america has the best start-up infrastructure and entrepreneurship. there's no penalty on starting up. it's how successful business already have products and once they already make the earnings and the point smaybe we have a better system, than a lot of the countries that don't have the start-up that we did, because there's more start-up favorable. >> and let me give the last words to...
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Jun 30, 2012
06/12
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the supreme court decided that the mandate is a tax, taxes are bad. taxes hurt the economy and to go back to toby's point. the small business has 50 employees, now has to mandate it, the attackses for paying $100,000, that's $100,000 out of their pact and there's been small business that is saying, hey, look, i've got to close one of my restaurants because i can't afford that 100,000, the left will say you have the tax credits and apply for exemption, i'll buy that. but the $100,000 cost doesn't go away. and what does that have for the job. >> here is what it does to jobs. the $100,000 is sucked out of the economy, so, people then can have to pay less to go to those restaurants, less to buy things, and yeah, if you're in the health care industry, that's the place to beimraplace anyone, young, old, go to the health care industry, everyone else is going to suffer. >> julian, everyone talks about how business owners small businesses owners have been craving certainty, now they finally got it. doesn't that help in terms of whether or not they're going to
the supreme court decided that the mandate is a tax, taxes are bad. taxes hurt the economy and to go back to toby's point. the small business has 50 employees, now has to mandate it, the attackses for paying $100,000, that's $100,000 out of their pact and there's been small business that is saying, hey, look, i've got to close one of my restaurants because i can't afford that 100,000, the left will say you have the tax credits and apply for exemption, i'll buy that. but the $100,000 cost...
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Apr 14, 2012
04/12
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you say you think this tax season is taxing. just wait. >> you know, brenda, i think in 2013, we're going to have to all move to the cayman islands. it's going to be a lot better there than it is here because, you know, brenda, heritage foundation called 2013 tax-mageddon. here's why. the average household here in the u.s. will see tax increases of $3800. you know, that comes from the expiration of the bush one and two tax cuts. expiration of the payroll tax cuts, obamacare increases and i heard obama is talking about this buffet tax, maybe we'll get that also and you know, brenda, here's the worst part. the primary focus on these taxes are going to be the middle and low income households because that's where the bulk of the bush tax cuts went to. in 2013, it's not going to be a very good year for anyone and the economy, brenda. >> ok, you are a small business owner. you are hiring tomorrow, what's this doing for your confidence and for your plans for the future? >> i haven't been confident in the longest -- i don't know if i kn
you say you think this tax season is taxing. just wait. >> you know, brenda, i think in 2013, we're going to have to all move to the cayman islands. it's going to be a lot better there than it is here because, you know, brenda, heritage foundation called 2013 tax-mageddon. here's why. the average household here in the u.s. will see tax increases of $3800. you know, that comes from the expiration of the bush one and two tax cuts. expiration of the payroll tax cuts, obamacare increases and...
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May 12, 2012
05/12
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i love tax cuts. and right now we're spending 24, 25% to grosse pointe woods and we've got about 15% of grosse pointe woo gdp. so he we've got to do something and extending the push tax cuts with he no way to pay for them is just digging yourself a bigger hole and foolishness. >> that's why i said government needs to cut spending on the other side, also. >> and you didn't cut it gas enough to replace that kind of dollar. >> okay, all right. guys, that's got to be the last word. and well, did you hear this tough love message? >> get off the couch and get yourself a job. [applause] >> you will he' hear more from maine's tough love governor, on cavuto at the bottom of the hour. first, the huge trading loss on jp morgan chase calling for more regulation and some here are saying that's going to cost all of us much more. y wa. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fing
i love tax cuts. and right now we're spending 24, 25% to grosse pointe woods and we've got about 15% of grosse pointe woo gdp. so he we've got to do something and extending the push tax cuts with he no way to pay for them is just digging yourself a bigger hole and foolishness. >> that's why i said government needs to cut spending on the other side, also. >> and you didn't cut it gas enough to replace that kind of dollar. >> okay, all right. guys, that's got to be the last...
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Aug 25, 2012
08/12
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the president wants to raise the tax on small business from 35% to 40%. that's the income tax. by the time you pay the state tax, which is just a little under 6% and then you pay sales tax and gasoline tax and real estate tax, you find out that the government is taking well more than half of what you make. so people decide, i'm not going to begin my business. that's why we're at a 30-year low in this country for new business start-ups. i want to make sure that we help entrepreneurs and innovators. i want to speak to the women of america who have dreams, who begin businesses in their homes, who begin businesses out in the marketplace, who are work at various enterprises and companies. i want you to be successful. our campaign is about making it easier for entrepreneurs, women and men, to start businesses, to grow businesses. we will champion small business because we know that's where our jobs come from. we know that if we get this economy going with energy that's abundant, by getting the skills people need, by opening up new trade and cracking down on cheaters, by finally getti
the president wants to raise the tax on small business from 35% to 40%. that's the income tax. by the time you pay the state tax, which is just a little under 6% and then you pay sales tax and gasoline tax and real estate tax, you find out that the government is taking well more than half of what you make. so people decide, i'm not going to begin my business. that's why we're at a 30-year low in this country for new business start-ups. i want to make sure that we help entrepreneurs and...
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Apr 7, 2012
04/12
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and you have a, a campaign about taxing the rich even more. so, you've got entrepreneurs who say i don't know if i want to start up or build my business, corporations saying, we're going to expand overseas, so all of these things together are kind of combatting what the fed has been doing and that's why i think it's almost worse than a recession, brenda, i think we're going to muddle through endlessly, like mud, like we did back in the 70's, maybe for a few more years of this. >> and during the 70's, i think the dow started the same place that it ended, yeah, and you guys are talking about the liquidity washing around and really, what you're saying is that interest rates are going to stay low. >> exactly. >> brenda: that's what it means to us. now i've got to go to the smart boy chair now. jonas, tell what yous it really means. >> he's the smart man, you're the smart boy. >> and i'd say i've got zero percent interest rates and all i've got is 120,000 job. the consider we're he in a stimulus role with the tax rate and the not creating that many
and you have a, a campaign about taxing the rich even more. so, you've got entrepreneurs who say i don't know if i want to start up or build my business, corporations saying, we're going to expand overseas, so all of these things together are kind of combatting what the fed has been doing and that's why i think it's almost worse than a recession, brenda, i think we're going to muddle through endlessly, like mud, like we did back in the 70's, maybe for a few more years of this. >> and...
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Aug 4, 2012
08/12
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and cavuto on business next. ♪ >> tax hikes? we don't need your stinking tax hikes. hello i'm charles payne in for neil cavuto. the main message for washington is getting louder and georgia voters saying no to a state-wide sales tax increase and in texas, republican voters saying yes for the tea party candidate for senate. this as more american companies are voting with cash, spending more on stock buybacks and takeovers, amid looming tax hikes. if the writing is on the wall. we'll be seeing, and read it. to ben stein, dagen mcdowell. will d.c. see the writing on the wall? >> i think it has. if you think about it, president obama has not raised taxes yet on the income. he's backed off that income, going back to the clinton tax rates. and i will say this, and when you look at what people want, they-- people obviously hate tax increases, but i think the message and i've not seen the definitive poll on this. when you look at it it's nor nuanced. i think a lot of people wouldn't mind paying higher taxes if at least they made a real effort to cut the size of government. a
and cavuto on business next. ♪ >> tax hikes? we don't need your stinking tax hikes. hello i'm charles payne in for neil cavuto. the main message for washington is getting louder and georgia voters saying no to a state-wide sales tax increase and in texas, republican voters saying yes for the tea party candidate for senate. this as more american companies are voting with cash, spending more on stock buybacks and takeovers, amid looming tax hikes. if the writing is on the wall. we'll be...
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Jul 21, 2012
07/12
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there's a new drive to tax you for every mile you drive. proponents say it's needed to put us on the road to recovery. but will it just have the economy slamming on the brakes even more? lio? with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. and i thought "i can't do this, it's just too hard." then there was a moment. when i decided to find a way to keep going. go for olympic gold and go to college too. [ male announcer ] every day we help students earn their bachelor's or master's degree for tomorrow's careers. this is your moment. let nothing stand in your way. devry university, proud to support the education of our u.s. olympic team. [ male announc
there's a new drive to tax you for every mile you drive. proponents say it's needed to put us on the road to recovery. but will it just have the economy slamming on the brakes even more? lio? with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert...
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Jan 28, 2012
01/12
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but with any tax cut, there's he a tax raise. >> a tax raids that let to his bringing down the unemployment rate and realigning it to stimulate the economy, and is when he ran for reelection, and so, you again, not only cut taxes, but raised it with circumstances dictated. >> jonas? >> there's diminishing returns for any, and when you start to cut. otherwise we should go to 0% tax and without creating more jobs, probably not as many as the initial cuts. >> and the point, you need a third level of taxation and support the government not go bankrupt and it shouldn't be 15% across the board or we'll go broke. >> last word, toby? >> we should let the chips fall where they may and we know 50% capital gain and the explosion in our economy, we wouldn't know what to do with the growth. >> thanks so much. >> well, his company just created 14,000 new jobs last year and now one of the america's foremost ceo is telling neil cavuto, the president's job plans is not the way to go. and first, did you hear about this? and gas prices spike in the u.s., a china off shore rig is getting ready to pump out oil
but with any tax cut, there's he a tax raise. >> a tax raids that let to his bringing down the unemployment rate and realigning it to stimulate the economy, and is when he ran for reelection, and so, you again, not only cut taxes, but raised it with circumstances dictated. >> jonas? >> there's diminishing returns for any, and when you start to cut. otherwise we should go to 0% tax and without creating more jobs, probably not as many as the initial cuts. >> and the point,...
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he's paying his taxes. the law says what you say and you pay it. by the way, neil, i'm here in florida for the winter and you ought to come down to the beach. i continue to be a new york state resident and my wife and i continue to pay the high new york state taxes and i think that governor cuomo is giving our money's worth. but back to mitt. mitt romney ought to feel good about what he did and how he did it and ought to be willing to show and i think he will show his tax returns. eventually, i wish that our current president were more forth coming four years ago than he was. i'm full full disclosure, mitt has nothing to be ashamed of. he did it great job, a fabulous business record. he did an incredible job with the olympics in utah. and i can only tell you first and if you want proof of his management, i've never-- i'm very active with the campaign and essentially raising money and i've never seen a better organized campaign ever. if this is what he's going to do as president, we're getting the things we need, but you-- you did say that he should
he's paying his taxes. the law says what you say and you pay it. by the way, neil, i'm here in florida for the winter and you ought to come down to the beach. i continue to be a new york state resident and my wife and i continue to pay the high new york state taxes and i think that governor cuomo is giving our money's worth. but back to mitt. mitt romney ought to feel good about what he did and how he did it and ought to be willing to show and i think he will show his tax returns. eventually, i...
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loopholes to get rid of and do tax reform overall lower the tax rate for everyone. make high earners not have the taxes. they think if you cut rates you cut tax revenue. that isn't necessarily the case. john kennedy cut rates there was an increase in revenue. reagan cut rates. if you cut the rates and you cut the loopholes you can end up with something that we had in 1986 which was a fantastic trial. democrats and republicans we would reproduce that which is what the ryan owe romney plan would be. >> more with the panel and we also have other special guests on the other side of this quick break. live coverage of mitt romney's selection of paul ryan as his vice presidential pick. now they are on the road campaigning together. romney ryan in 2012. more in just a bit. the better y. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when
loopholes to get rid of and do tax reform overall lower the tax rate for everyone. make high earners not have the taxes. they think if you cut rates you cut tax revenue. that isn't necessarily the case. john kennedy cut rates there was an increase in revenue. reagan cut rates. if you cut the rates and you cut the loopholes you can end up with something that we had in 1986 which was a fantastic trial. democrats and republicans we would reproduce that which is what the ryan owe romney plan would...
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an a tax on tax and a tax on preeting-- once you get that point it's like crack and these guys, this is what they're hoping for to get a sliver going and roll and roll and roll with people and what you have, you have inefficient money going into the government. excuse me, efficient money going into the government. to quote gary b smith and it's a disaster. >> i don't think there's a lot of reason to speculate about the tax, it's not going to happen. this is a bunch of egg heads at the bowels of u.n., to propose that country voluntarily create a tax on themselves. and surprised to take toby, a very smart guy, no chance of it. we've heard threats of these kinds of taxes before. nothing ever comes in mind. this is just more-- >> i will give you that, it's definitely from the bowels. >> brenda: okay. well, gary b, you know, the union has been around for decades wasting or spending billions of dollars. this is not totally out of context. this could happen, couldn't it? >> absolutely, brenda. in fact, i'd say for the last 20 years, to paraphrase ronald reagan, the nine more terrifying word
an a tax on tax and a tax on preeting-- once you get that point it's like crack and these guys, this is what they're hoping for to get a sliver going and roll and roll and roll with people and what you have, you have inefficient money going into the government. excuse me, efficient money going into the government. to quote gary b smith and it's a disaster. >> i don't think there's a lot of reason to speculate about the tax, it's not going to happen. this is a bunch of egg heads at the...
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of those states that are right to work are also ones that are on the federal dole in returning less tax dollars back to the feds than they received. and so, you know, to say that it's the be-- i don't think matches up with the fact. >> brenda: i've got to bring in toby here. >> come on, man, this is like-- come on, man. not only the national labor relations institute, a 10-year study this is not a 2-year study. this is a 10-year study. every one of the numbers have been in favor of right to work. what is right to work? simply the fact that you're not forced to pay union dues or be a union members to work in america. and i don't even-- i don't understand that concept when you look at the facts and how you would force people to pay union dues to have less growth and less wages. that's not-- >> i'll help you with that, if i may. >> brenda: okay, well, lets me get somebody to help you a little bit. >> sure. >> brenda: i want to bring in everybody first. jonas, you actually think that there is a cost to lowering cost at some point? >> yeah, there's a lot of factors what is helping the econom
of those states that are right to work are also ones that are on the federal dole in returning less tax dollars back to the feds than they received. and so, you know, to say that it's the be-- i don't think matches up with the fact. >> brenda: i've got to bring in toby here. >> come on, man, this is like-- come on, man. not only the national labor relations institute, a 10-year study this is not a 2-year study. this is a 10-year study. every one of the numbers have been in favor of...
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do anything, taxes go up quickly, first the payroll and the bush tax cuts go away. you want to compromise, a little bit of doing stuff and what we've seen is the good jobs with the stock market the last few weeks, we probably don't need a whole lot more government. you want the government to pick up the slack, but the private sector is coming back right now and the government can slowly get out of the way now. out after recession and i can i think it's worth noting that we had a lot of stuff in the bad parts, it wasn't all brilliant stuff, but at this point. we don't need a whole other round of anything necessarily. >> business cycle, toby? >> cycle. gosh, call me an old-fashioned person here, but what happens with the the business cycle is demand becomes lower, that's where our recession comes from and people stop buying stuff and that creates ultimately pent up demand and we're start to go get to that self-reinforcing point. that's exactly the time of point you want to be stepping out because in essence, idea of government providing some stimulus early in a recess
do anything, taxes go up quickly, first the payroll and the bush tax cuts go away. you want to compromise, a little bit of doing stuff and what we've seen is the good jobs with the stock market the last few weeks, we probably don't need a whole lot more government. you want the government to pick up the slack, but the private sector is coming back right now and the government can slowly get out of the way now. out after recession and i can i think it's worth noting that we had a lot of stuff in...
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tax revenue is up. personal income is up. david is right, wisconsin ranks 50th but toby pointed out and the fact is they ranked 50th before he started. the same argument that da david and the left would make for are obama is what is happening with the trend and the trend is turning around in all of the metrics that matter. so what the real question is. >> come on, gary, where are you geting that information? >> you got to let me finish. >> hold on. >> what we are really deciding here is free market versus managed economy. governor walker basically is opposed be unions. what the unions want is to manage the economy. it works better for them. what governor walker wants is more of a free market. what happened with the freer market? as we pointed out 30 seconds guy all the metrics are starting to turn in the free market's favor. >> i got to get everybody in here but then i will give you a chance to respond, david. jonas, go ahead. >> every state in the union pretty much has a better employment picture and tax revenue picture are
tax revenue is up. personal income is up. david is right, wisconsin ranks 50th but toby pointed out and the fact is they ranked 50th before he started. the same argument that da david and the left would make for are obama is what is happening with the trend and the trend is turning around in all of the metrics that matter. so what the real question is. >> come on, gary, where are you geting that information? >> you got to let me finish. >> hold on. >> what we are really...
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>> they have got great jobs and-- >> the highest tax rates in the world. highest tax rates in the world and those are the ones i'm talking about and guess what, they've still found out a way how to make money and still drive the economy and even though we have the highest corporate tax rate in the world, they're winning. >> and they're wearing people, like, that's what we're finding out. >> because the demand came from the stimulus, thank you very much. >> gary b. respond. >> if mike thinks that 15% unemployment rate is a great thing, yes, to mike's point we should have a lot of stimulus all the time going back to dr. bob's point, and all of the money for government and-- >> mike, please, please, let him finish. >> we should give all of our money to government and let them spend because in mike's world, the government is the one creating jobs and getting us out of any hole that we might have, and so according to that logic, government should spend all of our money all the time, we would never have a recession, we'd never have depression, never have-- >> he
>> they have got great jobs and-- >> the highest tax rates in the world. highest tax rates in the world and those are the ones i'm talking about and guess what, they've still found out a way how to make money and still drive the economy and even though we have the highest corporate tax rate in the world, they're winning. >> and they're wearing people, like, that's what we're finding out. >> because the demand came from the stimulus, thank you very much. >> gary b....
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the 47% who don't pay federal income taxes, and that's at the bottom of the hour, and did a new report just prove mitt was right? it claims that the government is giving americans incentives to stay on the dole. we report, you decide. . >> hey, alex picking up brochures 't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. exclusive to the military, and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank. with our award winning apps that allow you to transfer funds, pay bills or manage your finances anywhere, anytime. so that wherever your duty takes you, usaa bank goes with you. visit us online to learn what makes our bank so different. >> the fox news alert, everyone. i'm jamie colby. major developments in benghazi, libya overnight
the 47% who don't pay federal income taxes, and that's at the bottom of the hour, and did a new report just prove mitt was right? it claims that the government is giving americans incentives to stay on the dole. we report, you decide. . >> hey, alex picking up brochures 't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an...
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and it's not going anywhere, we have tax increases coming, if the bush tax credits expire. we've seen really, nothing good out of this economy and until people start to get back working, that's going to start everything. i don't see that levelling off or picking up anytime soon. that's what has me worried. >> just, the fed with the knockout punch with the assessment of growth and employment. toby, could this downgrade be the straw that breaks the camel's back? >> it could be, but maybe for different reasons. remember, the banks already aren't lending as much cash as they normally have and if you look at the actual numbers, small business lending actually is up quarter over quarter and we started to get to the points and with the down grades, they're he not getting the criteria, they've got to take the cash out of the piggy bank and for the the stuff they've been doing, what i think you're going to see happen thoi is see the regulators move the goal post in so that they get extra time to absorb this, this is political. and right now, this is one thing that could take us down
and it's not going anywhere, we have tax increases coming, if the bush tax credits expire. we've seen really, nothing good out of this economy and until people start to get back working, that's going to start everything. i don't see that levelling off or picking up anytime soon. that's what has me worried. >> just, the fed with the knockout punch with the assessment of growth and employment. toby, could this downgrade be the straw that breaks the camel's back? >> it could be, but...
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monopoli monopolies, effectively have higher taxes on the company than non-monopolies. we get less and that's exactly what happens when you get stupid things like union wage and unionization. the union employees get more, but there's less jobs to go around and it's funny, the government always cracks down on monopolies, except when it's the case of unions and they want more of it. they need right to work in all 50 states in order to increase the employment rate. >> why would a ceo care about choosing a right to work state over a nonright to work state? >> yeah, and i agree completely with gary b: there's no question we'll see more and more of this. attacks on the company. if i'm a ceo of the company. where can i get the best employment and best people to work on my product with the least amount of money, they're shopping around and smart. that's the ceo's job to make it more efficient and profitable and without any question, the union is a tax. there are so many layers of expenses, involved with the union and when i was a kid. somewhere around 20 years old. i actually w
monopoli monopolies, effectively have higher taxes on the company than non-monopolies. we get less and that's exactly what happens when you get stupid things like union wage and unionization. the union employees get more, but there's less jobs to go around and it's funny, the government always cracks down on monopolies, except when it's the case of unions and they want more of it. they need right to work in all 50 states in order to increase the employment rate. >> why would a ceo care...
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unionization leads to higher unemployment, unionization is the basically like a 30 percentage point tax increase on companies that have them. so, we know that unionization is not good for the economy. we also know on the flip side, the nlrb is pro union and they're an apartment accountable agency to all-- to no one. so, right there. you put it altogether and say, does this look good for the economy or bad for the economy? you have to conclude, bad for the economy. >> all right. steve, you answer that. >> well, that's completely false, about the nlrb. and they are not able to-- >> and where are the-- >> they're not able to false management and labor and not able to bring in binding arbitration as the employee free choice act called for. there's zero correlation between strong economy, weak labor. when our economy was the biggest part of the world's economy in the 1950's was when we were at the peak of our unionization. >> 1950. today in germany, which is doing quite well economic dri, there's been workers have 50% of the representation on the board of directors. they call it co-determina
unionization leads to higher unemployment, unionization is the basically like a 30 percentage point tax increase on companies that have them. so, we know that unionization is not good for the economy. we also know on the flip side, the nlrb is pro union and they're an apartment accountable agency to all-- to no one. so, right there. you put it altogether and say, does this look good for the economy or bad for the economy? you have to conclude, bad for the economy. >> all right. steve, you...
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no a lot more workers, when you have more workers, you have a bigger tax base, you have more revenues coming in, it's all good. wisconsin is going to win this war. michigan is going to be looking back like they're in the be stone age. >> brenda: jonas? >> a lot has changed in the auto industry. a long time ago they had high wages, too, relative to the rest of the country and the auto industry was very successful. there's more going on than just the union wages. you know, and also, wisconsin is a very different economy than michigan and we'll say, yeah, they're close together. and one is making cheese and the other is making cars. the point is, unions in theory could close a budget gap if they do what garrisi saying, raising the wages, by the state tax rate and in the short return, that could help close a gap. in the long run, the jobs are going to states that aren't like michigan, which would be wisconsin and other states. so it couldn't work for the state. michigan has to get on board with the people, i mean, through those that don't have unions. >> does it matter? union participatio
no a lot more workers, when you have more workers, you have a bigger tax base, you have more revenues coming in, it's all good. wisconsin is going to win this war. michigan is going to be looking back like they're in the be stone age. >> brenda: jonas? >> a lot has changed in the auto industry. a long time ago they had high wages, too, relative to the rest of the country and the auto industry was very successful. there's more going on than just the union wages. you know, and also,...
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reform, not raising tax rates. and you know, read the moment of truth, the simpson bowles plan, we get it. we need to lower, flatten the tax, broaden the base and a step further and introduce corporate taxes to make us more competitive around the world. >> well, all of those things may be, you know, on your wish list, right now, what we're facing, gary b, is that that fiscal cliff everyone is talking about, that at the end of this year, we do not-- if we do not-- the tax cuts expire and we're going to have huge spending cuts as well. >> well, exactly, brenda. aim note worried about the spending cuts, i mean, you know, all the better, jonas talked about the stimulus program, especially saying the government is paying out more than we're taking in, yeah, let's fix na part, too, with a bigger cut, but getting back to that tax, brenda, it's not just, don't forget the bush tax cuts going away, capital gains are going to go up. we have the obamacare health taxes coming in, and you know, the left argues, let's go back to
reform, not raising tax rates. and you know, read the moment of truth, the simpson bowles plan, we get it. we need to lower, flatten the tax, broaden the base and a step further and introduce corporate taxes to make us more competitive around the world. >> well, all of those things may be, you know, on your wish list, right now, what we're facing, gary b, is that that fiscal cliff everyone is talking about, that at the end of this year, we do not-- if we do not-- the tax cuts expire and...
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this is not a tax increase as jonas would like to say, overall it raises corporate taxes and the other thing, he talks about eliminating loopholes, there are so many more new loopholes not the which is favoring some industries the at the expense of others, this is hair brained and dumb just like all the other economic ideas. >> there have been studies on this, toby. >> yes, i've referred to a couple of them. the one is almost dollar per dollar and actual taxes and i'm sorry, jonas, but the actual numbers why we get through all of this gobbledygook, is higher and means less jobs. >> brenda: all right. that's the last word. thanks, guys. why someone here is saying, don't fight rising gas prices, join them. name that could help fill up your tank, and then some. (crickets chirping) you might just wanna trade that one in. ♪music announcer: during the bass pro shops spring fishing classic save up to an extra $100 on a new reel when you trade one in. like an extra $20 dollars off this carbon lite baitcaster. it's good. honey, i love you... oh my gosh, oh my gosh.. look at these big pieces o
this is not a tax increase as jonas would like to say, overall it raises corporate taxes and the other thing, he talks about eliminating loopholes, there are so many more new loopholes not the which is favoring some industries the at the expense of others, this is hair brained and dumb just like all the other economic ideas. >> there have been studies on this, toby. >> yes, i've referred to a couple of them. the one is almost dollar per dollar and actual taxes and i'm sorry, jonas,...
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and someone's going to pay for it and it's going to be higher taxes and higher taxes is lower profit and that's how it works. >> do you think that caterpillar is making a call based on potential future policy? i think you're short-- what they are saying is foreign governments and their demand is what's falling off right now. the rest of the world is much-- >> right. >> because they were shrinking their economies a little too early in the recession and too quick into austerity and california is america's greatest economy, let's not forget that, much bigger than many, many states combined. right now, that's driving america and technology. >> the biggest doesn't necessarily mean greatest, does it, gary b? >> no, it didn't. and jonas is right. we'll have a chance to see how quickly, quote, unquote, california's economy grows, but i want to come back to one other point and jonas made the comment, government can create jobs. government cannot create jobs. first off to hire teachers, that's the biggest kenard out there, that's not the government's job. we would have had millions of net jobs
and someone's going to pay for it and it's going to be higher taxes and higher taxes is lower profit and that's how it works. >> do you think that caterpillar is making a call based on potential future policy? i think you're short-- what they are saying is foreign governments and their demand is what's falling off right now. the rest of the world is much-- >> right. >> because they were shrinking their economies a little too early in the recession and too quick into austerity...
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. >> and the tax rolls, look, this can only be seen as a positive and i know what jonas is saying, yes, it will increase the overall participation right rate, amount of people looking for work and they're working and the guys we talk about shovel ready jobs and the guy that-- >> americans could be. >> an a move for the government to this during an amount of unemployment. >> a meaningful improvement in our stressed out entitlement program. and thanks for that one. a new group is pushing to unionize the unemployed. but could this push actually more workers looking for a job? with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. want to start the day with something heart healthy and
. >> and the tax rolls, look, this can only be seen as a positive and i know what jonas is saying, yes, it will increase the overall participation right rate, amount of people looking for work and they're working and the guys we talk about shovel ready jobs and the guy that-- >> americans could be. >> an a move for the government to this during an amount of unemployment. >> a meaningful improvement in our stressed out entitlement program. and thanks for that one. a new...
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the payroll tax expires, that stinks. it's not a cliff, it's a speed bump and running the deficit next year anyway. >> brenda: jonas is it the not going to get elected to anything, but that's all right. he's talking some truth here, todd. the truth is that politicians, do they have the will to do this and maybe we should be be so scared of the debt and the deficit that we just fall over the cliff? >> listen, representative from maryland, chris van holland said in june if they didn't have the deal done before summer recess it wouldn't get done and clearly it's not. they're going to election recess and then the lame duck after the election. the thing about defense, with everything that's taking place this week, the turmoil. how can you possibly say it's okay to cut on the defense sector. >> brenda: and i've got to get to steve. you've got the debt, the deficit over here, and the fiscal cliff here, which way do you go? >> well, first of all, we went off the fiscal cliff 50, 60, 70 years ago. this is about opening a parachute
the payroll tax expires, that stinks. it's not a cliff, it's a speed bump and running the deficit next year anyway. >> brenda: jonas is it the not going to get elected to anything, but that's all right. he's talking some truth here, todd. the truth is that politicians, do they have the will to do this and maybe we should be be so scared of the debt and the deficit that we just fall over the cliff? >> listen, representative from maryland, chris van holland said in june if they didn't...
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. >> and could jeff immelt get the tax breaks to create green energy or whatever. is his ceo job a green job, adam? >> i think we can agree on public policy measures that try to help the environment and others-- >> and should jeff immelt-- >> i have no problem with that. >> jeff immelt has a high paid green job. >> we've all been sucked into the insane world of debating. why do we even have a green jobs category. >> very good. >> a job is a job is a job. >> and i feel guilty we're doing the segment. >> it's a waste of time and money that the government is focused on fixated on this. >> you know why? because he's trying to justify. >> i know, it's still dumb. >> so long as you're-- did i say dumb? >> no, she called the situation dumb. >> here is the bottom line, it's a conduit for stealing money from the public, a lot of money from the public for the initiatives to appease the environmentalists adam. to give money back to political donors, if you cut through the bull, maybe a couple hundred green jobs, a couple hundred, not 3 million. it's a lie-- and if orwell wrot
. >> and could jeff immelt get the tax breaks to create green energy or whatever. is his ceo job a green job, adam? >> i think we can agree on public policy measures that try to help the environment and others-- >> and should jeff immelt-- >> i have no problem with that. >> jeff immelt has a high paid green job. >> we've all been sucked into the insane world of debating. why do we even have a green jobs category. >> very good. >> a job is a job is...
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do you think that the path ahead for us is for taxes to come down? to have less wasteful spending, to have less welfare and more work. to have less job killing regulations? do you think that it's time that we had leaders who will tell us the truth? do you think that it's time that we have leaders who will quit demagoguing social security and save social security from bankruptcy? do you think that it's time that we have leaders that will quit demagoguing medicare and save medicare from bankruptcy? do you think that it's time for mitt romney. >> and paul ryan. lee, come up here, paul ryan says he will not come back on this stage until lee greenwood sings that song. lee, come on up here. let's hear it again for lee greenwood. [applause] >> and i will sing that song. that i wrote in-- next year 30 years since i wrote this and it still stands for america. mike, play the track, if you will. ladies and gentlemen, what i believe is america needs heroes, needs all of us to be gathered and united once again in the country. ♪ if tomorrow worked for all my lif
do you think that the path ahead for us is for taxes to come down? to have less wasteful spending, to have less welfare and more work. to have less job killing regulations? do you think that it's time that we had leaders who will tell us the truth? do you think that it's time that we have leaders who will quit demagoguing social security and save social security from bankruptcy? do you think that it's time that we have leaders that will quit demagoguing medicare and save medicare from...